THELOGICALINDIAN - This is the adventure of SurBTC a Chilean bitcoin barter which allows users to buy and advertise bitcoin application their online analogous agent which was aloof accepting started in an breadth with added and added appeal for bitcoin Unfortunately theyve been hit with a barricade by Santander Bank Chile and accept absent 70 of their chump base
It all started seven months ago aback SurBTC abstruse from Santander Coffer that a chump who purchased $500,000 CLP ($755 USD) of bitcoin, afterwards went aback to the coffer afterwards accepting the bitcoin and said it was a betray and they capital their authorization dollars back.
Just a few short weeks later, SurBTC started accepting complaints from barter adage they could not accomplish coffer transfers to the barter to buy bitcoin. Through the exchange’s own analysis of chump issues, they accomplished all the barter with issues all had Santander Coffer accounts.
SurBTC contacted Santander Coffer Chile, and was told aboriginal on that all of these barter were experiencing abstruse problems with their agnate bank, Chilean bank, Banco Itau. Of advance SurBTC asked Banco Itau what the problems were, and they told the barter they were no problems. The barter estimated that they were accident about 30% of their business due to the advancing issues.
SurBTC was affairs it’s beard out aggravating to get to the basal of the affair and amount it out amid the two banks. At this point, the problems began to get worse.
The barter begin out that barter that were aggravating to drop from added banks were all declining too. Barter from Banco Falabella, Banco Estado, Banco Security, amid several others were all no best working.
The barter was now accident massive amounts of business due to 70% of their barter not actuality able to use their banks to alteration funds to the exchange. After a few added weeks of aback and forth, aggravating to amount out the affair on their own, it seems SurBTC stumbled on a accessible acumen on why cipher can do coffer transfers with them.
While researching the issue, they ran into an absurdity folio on the Banco Bice website, area the absurdity adumbrated the affair was with the Automated Clearing Center. After attractive into the error, they contacted Santander alone then to find out from them that Santander had put the barter on the Centro de Compensacion Automatizado’s (CCA) “black list.”
The CCA in Chile operates like abounding added coffer allowance houses, which has a ample arrangement of banks in and about Chile that coordinates coffer transfers amid them. With Santander agreement the barter on the CCA’s atramentous list, the barter was about abandoned from about every coffer in Chile, shutting bottomward their business about instantly.
Guillermo Torrealba said,
Although $755 USD may assume like a baby bulk of money all-embracing to get your business restarted and abolish the blockade, to SurBTC this was abundant money for the baby startup to anticipate alert about the issue. They were out of the bitcoins, as the chump accustomed them, additional they would pay aback the bank, acceleration the bulk absent to $1510 USD.
Torrealba says that SurBTC has 2024 barter and has candy about 10,000 deposits and withdrawals, and takes their business seriously. Although they were accident bifold the money, SurBTC said they would pay the funds to Santander to resume business and abolish the blockade.
With SurBTC accessible to pay the funds to Santander, a new contraction unfolded. Santander Bank said they could not aggregate the money until the SBIF apparent the problem. Until the botheration was bound with SBIF, the barricade would remain.
Chilean cyberbanking regulator SBIF is a accessible academy amenable for acclimation and administering cyberbanking and banking institutions that accomplish in Chile.
At this time, SurBTC is still beneath the blockade, clumsy to action over 70% of chump coffer transfers which is debilitating their business. The Chilean startup has accounting a letter, in hopes to accompany added eyes to the affair to draw attention, and maybe get some charity from the cyberbanking cartels.
SurBTC has additionally afresh accustomed the advice of the Association of Entrepreneurs of Chile (ASECH), who has assigned them a accumulation of attorneys who are aggravating to advice boldness the issues on their behalf.
